Sycale Advisors NY LLC purchased a new position in shares of Genius Sports Limited (NYSE:GENI - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 1,400,342 shares of the company's stock, valued at approximately $12,113,000. Genius Sports makes up about 3.1% of Sycale Advisors NY LLC's holdings, making the stock its 12th largest position. Sycale Advisors NY LLC owned about 0.65% of Genius Sports as of its most recent filing with the SEC.
A number of other institutional investors also recently modified their holdings of the business. Emerald Mutual Fund Advisers Trust acquired a new position in Genius Sports in the 4th quarter worth about $58,000. Steward Partners Investment Advisory LLC increased its holdings in Genius Sports by 39.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 12,182 shares of the company's stock worth $105,000 after purchasing an additional 3,429 shares in the last quarter. Bayesian Capital Management LP acquired a new position in Genius Sports in the 4th quarter worth about $129,000. Perigon Wealth Management LLC acquired a new position in Genius Sports in the 4th quarter worth about $136,000. Finally, Envestnet Asset Management Inc. increased its holdings in Genius Sports by 27.2% in the 4th quarter. Envestnet Asset Management Inc. now owns 16,582 shares of the company's stock worth $143,000 after purchasing an additional 3,548 shares in the last quarter. Institutional investors and hedge funds own 81.91% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities analysts have issued reports on the company. JMP Securities reaffirmed a "market outperform" rating and issued a $11.00 target price on shares of Genius Sports in a report on Monday, January 27th. BTIG Research increased their price target on Genius Sports from $11.00 to $12.00 and gave the company a "buy" rating in a research note on Tuesday, April 22nd. Guggenheim began coverage on Genius Sports in a research note on Tuesday, March 18th. They issued a "buy" rating and a $12.00 price target for the company. The Goldman Sachs Group increased their price target on Genius Sports from $11.00 to $12.50 and gave the company a "buy" rating in a research note on Wednesday, March 5th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Genius Sports in a research note on Monday, April 21st. They issued a "buy" rating and a $12.00 price target for the company. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat, Genius Sports presently has an average rating of "Moderate Buy" and a consensus price target of $12.19.
View Our Latest Analysis on Genius Sports
Genius Sports Trading Down 0.7%
NYSE GENI traded down $0.07 during trading hours on Wednesday, hitting $9.86. 4,652,778 shares of the company's stock were exchanged, compared to its average volume of 2,916,608. The stock has a 50-day simple moving average of $10.10 and a 200 day simple moving average of $9.40. Genius Sports Limited has a 1-year low of $5.03 and a 1-year high of $11.40. The firm has a market cap of $2.12 billion, a price-to-earnings ratio of -30.82 and a beta of 1.96.
Genius Sports (NYSE:GENI - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.02. Genius Sports had a negative return on equity of 14.11% and a negative net margin of 15.84%. The business had revenue of $143.99 million during the quarter, compared to analysts' expectations of $143.31 million. During the same quarter last year, the firm posted ($0.11) earnings per share. The firm's revenue was up 20.3% on a year-over-year basis. On average, sell-side analysts anticipate that Genius Sports Limited will post -0.1 earnings per share for the current fiscal year.
Genius Sports declared that its Board of Directors has initiated a stock repurchase program on Tuesday, May 6th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 4.4% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's board believes its shares are undervalued.
Genius Sports Company Profile
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Free Report)
Genius Sports Limited engages in the development and sale of technology-led products and services to the sports, sports betting, and sports media industries. It offers technology infrastructure for the collection, integration, and distribution of live data of sports leagues; streaming solutions comprising technology, automatic production, and distribution for sports to commercialize video footage of their games; and end-to-end integrity services to sports leagues, such as full-time active monitoring technology, which uses mathematical algorithms to identify and flag suspicious betting activity in global betting markets, as well as a full suite of online and offline educational and consultancy services.
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